China marks the 40th anniversary of its economic reforms and opening up on Dec. 18 — an occasion Beijing could use to emphasize its commitment to transform its economy, noted Scott Kennedy of the Center for Strategic and International Studies.

The standoff between Washington and Beijing will drag on for some time despite recent messages from President Donald Trump stating that progress had been made in the trade talks, economist Michael Spence told CNBC Monday.

China will never give up an inch of its territory, whether the self-ruled island of Taiwan it claims as its own, or in the disputed waters of the South China Sea, the country's defence minister said on Thursday.